This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EnerNOC Announces Investment In Software Company Genability; Adds Licensing Rights For Key Energy Intelligence Software Functionality

BOSTON, Feb. 5, 2014 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), announced today that it has led the Series A round of financing of San Francisco-based Genability, Inc., a software company that licenses its extensive database of electricity tariffs and rate engine for use with third-party products, such as EIS platforms, to precisely find, maximize, and communicate energy savings.

In addition to providing Series A funding, EnerNOC signed a licensing agreement which gives it certain exclusive rights to Genability's technology for EIS solutions that serve the commercial, institutional, and industrial sector. By connecting Genability's tariff engine to EnerNOC's EIS applications, end users will have more accurate energy forecasts, be able to make operational tradeoffs in a more informed manner, as well as be able to verify the cost savings from energy efficiency measures. For businesses, it is important that savings are articulated in dollars instead of kilowatt hours.

"Connecting energy efficiency measures to dollars is what drives organizational change and justifies future investments in energy efficiency projects, but with thousands of different utility tariffs in the U.S. alone, giving customer-specific projections can be a challenge, particularly for enterprise customers that could have dozens or even hundreds of sites," said Micah Remley, Vice President of Product Strategy and Technology at EnerNOC. "Genability's technology gives EnerNOC the ability to rapidly scale the amount of tariff information currently supported by our EIS platform. More importantly, it gives our customers the transparency they need to truly understand and appreciate the bottom line benefit that can be achieved by managing energy with software."

"EnerNOC has pioneered energy intelligence software, helping customers buy energy more cost-effectively, use less overall, and be more strategic about when energy is consumed," said Jason Riley, Founder and CEO of Genability. "By putting these savings in true dollar terms, businesses have at their fingertips real-time transparency they simply can't get with a rear-view mirror approach of relying on utility bills alone. This partnership will allow both companies to bring more cost savings to our respective customers."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs